Chiesi Farmaceutici S.p.A. acquired Raxone®/idebenone business worldwide from Santhera Pharmaceuticals Holding AG (SWX:SANN) on July 28, 2023. Under the terms of the agreement, Chiesi Group acquired all assets and certain liabilities related to idebenone in all indications worldwide, including Raxone in LHON, for which Chiesi already held exclusive license rights globally since 2019, except for North America and France. The agreement simplifies the Raxone business significantly for both companies with Chiesi becoming the global brand owner while enabling Santhera to focus on the launch of vamorolone in Europe, subject to approval. Under the terms of the agreement, Chiesi Group will assume the responsibility for the settlement agreed between Santhera and the French reimbursement authorities relating to Raxone in LHON amounting to ?25.3 million, significantly reducing near-term financial obligations and strengthening Santhera?s balance sheet. Furthermore, the cessation of Raxone-related activities allows Santhera to streamline business processes, thereby reducing operating costs and freeing up resources to be deployed for the European vamorolone launch and strategic projects.

Chiesi Farmaceutici S.p.A. acquired Raxone®/idebenone business worldwide from Santhera Pharmaceuticals Holding AG (SWX:SANN) on July 28, 2023.